Hong Kong Stock Midday Review: The Hang Seng Index opened high but closed down 0.63%, with the innovative drug sector continuing its strong performance

On August 11th, Jin10 Data reported that the Hang Seng Index opened high but fell back during the morning session, briefly surging past the 26,000 mark before fluctuating downwards and consolidating near the 250-day moving average underwater. The Hang Seng TECH Index also followed suit, dropping over 1% during the session, underperforming the broader market. By the midday close, the Hang Seng Index fell 0.63% to 25,773.56 points, while the TECH Index dropped 1.27% to 4,857.12 points, with a total market turnover of HKD 115.838 billion. On the sector front, the innovative drug sector continued to lead the market with strong gains, the storage chip concept showed signs of recovery, oil stocks led the gains, gold stocks opened high but fell back, and the automotive sector performed weakly. In terms of individual stocks, Zai Lab (09688.HK) rose 5.34%, WuXi AppTec (02359.HK) rose 2.02%, CNOOC (00883.HK) rose 3.76%, Montage Technology (06809.HK) rose 4.97%, Zijin Mining (02899.HK) fell 3.51%, and NIO-SW (09866.HK) fell 3.11%